At the "2015 China Auto Market Development Trend Forum" held recently, Shen Rong, deputy secretary-general of the China Automobile Dealers Association, said that the used car market is expected to achieve rapid growth in 2015. The scale of used car transactions will exceed 10 million and is expected to be close to 20 % growth rate.
Shen Rong said that the subordinate position of used cars relative to the new car market will be changed in the next five years. The used car market and the new car market are equally divided, and the ratio of new car sales to second-hand car sales is 1:1. The Chinese auto market as a whole will step into the market. Mature period.
In the past two years, with the growing maturity of the used car market, many electronic businesses are optimistic about the used car market. In August 2014, Yiche.com and Liantuo Group and Youxin Film jointly formed a joint venture to build a second-hand car platform from online to offline. Guanghui Auto Service Co., Ltd. and Alibaba Group officially signed a strategic cooperation agreement in Hangzhou to jointly build a used car O2O (online to offline) trading platform. Subsequently, Youxin Photo announced that the company completed a new round of financing totaling US$260 million. The investors include Huaping Investment Group and Tiger Global Fund. At the same time, 58 Tongcheng and Jiji.com began to build independent second-hand car platforms. In January of this year, the People's Network officially announced that it would use the $100 million financing from the D round to develop the second-hand car e-commerce business. The injection of funds from all parties has enabled the rapid development of used car e-commerce. According to Analysys think tank released "China Used Car E-Commerce Development Research Report 2015", in 2014 China's used car e-commerce transaction volume was 605,200, and the transaction amount reached 34.03 billion yuan. There are more than 10 investment and financing related to second-hand car e-commerce, of which nearly 50% of the investment and financing amount exceeds 60 million yuan.
The involvement of e-commerce will inevitably accelerate the development of the used car market. Shen Rong expects that “2015 sales of used cars are expected to exceed 10 million units, and the transaction amount will exceed 400 billion yuan. The sales of used cars in 2020 is expected to reach 20 million units.†Shen Rong, deputy secretary general of China Automobile Dealers Association, said in an interview.
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